It's now official the U.S. based Ameristar Casinos will be entering the Chicagoland gambling market now that the Indiana Gaming Commission has approved a transfer of ownership interest from Resorts East Chicago to Ameristar. Resorts East Chicago is a casino catering to the Chicagoland market, which makes up the third largest casino gambling market in the U.S. (only behind Las Vegas and Atlantic City). Bringing in over $2.5 billion annually, the gambling market in Indiana, Missouri and surrounding areas is certainly a region any casino operator would be happy to successfully tap into.

Ameristar issued a press release announcing the news, which was given today in a regular meeting of the Indiana Gaming Commission. Ameristar said they expect to close on the purchase no later than Tuesday, September 18. At that time, the re-branding process will begin, which should take no longer than one year to finish.

Ameristar Casinos plans to transform Resorts East Chicago so that it is identifiable with the Ameristar name by improving the casino floor offering and making upgrades to the on-site dining amenities. The most identifiable Ameristar touch, however, will be in how the casino is marketed to the Chicagoland crowd. The company has said they will be using the same approached to marketing that has proven successful for them in other casino markets in the U.S.

The actual sale of Resorts East Chicago went for $675 million, which Ameristar paid in full with cash. The sale was made with Resorts International Holdings, LLC, which is an affiliate with Colony Capital and investor Nicholas Ribis. Chicagoland residents can expect to see the Ameristar Casinos name on billboards and elsewhere very soon said company CEO and President, John Boushy.